Salmat lifts on acquisition approach

Company News

Shares in Salmat Limited (ASX:SLM) lifted yesterday as the direct marketer revealed it had received an unsolicited and conditional approach to acquire the largest of its three divisions.

The approach is in regards to the possible purchase of its Business Process Outsourcing division which services large corporations.

Salmat says it will consider the approach that has been made from a credible party whose identity remains confidential.

The company advises there is no certainty the approach will lead to a deal but that it will continue to keep the market updated.

Shares in Salmat lifted 13.27 per cent on Wednesday, closing at $2.22.

In the first half of the 2012 financial year Salmat recorded a net profit of $13.5 million.


Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.